That's all well and good but when just the lifting cost of our completed wells is $29 per barrel we wouldn't want to see the oil price fall much further as no amount of technology will make it profitable.
It does make me wonder how the Saudi's can produce oil so cheap but I guess they benefit from labor costs etc and they would probably even produce at a loss with govt subsidy if they really wanted to teach the US a lesson.
In saying all that I bought a few more today at .012.. why not and hope TB can pull another rabbit out otherwise it's goodbye.
SSN Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
and hope TB can pull another rabbit out otherwise it's goodbye.
